Comparative analysis of Nigeria and India essential macro-economic indices

Abstract

Bearing in mind the long standing relations between Nigeria and India, a comparative analysis of their 2008 SAM was undertaken in order to assess the relative strength of each country. To do this, the forward and backward linkages of the economies obtained from the technical coefficients were compared. In spite of the fact that per capita GDP of Nigeria is higher than India, it was found that Nigeria’s GDP is dominated by import while that of India was dominated by private consumption expenditure. Nigeria’s economy is still import dependent while the export sector is dominated by primary products like yams and oil and gas, making Nigeria vulnerable to external shocks. There are also wide disparities between the domestic demand of goods between Nigeria and India. Nigeria must reduce the importation of capital goods and increase investment spending on the public sector services for up to 45% of that of India in order to be at the present welfare level of India .

Publication
ICAAT 2019-1st International Conference of Agriculture and Agricultural Technology, School of Agriculture and Agricultural Technology, Federal University of Technology, Minna between 23rd-26th
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GDP Forward integration Backward Integration GAMS RStudio
Job Nmadu
Professor of Agricultural Economics and Dean, School of Agriculture and Agricultural Technology

Research interests are economic efficiencies of small scale farming and welfare effects of agricultural interventions.

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